Brazil

Wednesday, January 30th 2019 - 09:59 UTC
Brazil's federal debt increased 8.9% last year and is estimated to rise 11% in 2019

Brazil’s federal debt rose to 3.88 trillion Reais ($1.03 trillion) in December, up 8.9% from 3.56 trillion Reais a year earlier, and is expected to rise further this year, the Brazilian Treasury said. The Treasury predicts public debt this year will swell to somewhere between 4.1 trillion and 4.3 trillion Reais, the upper end of which would represent an increase of almost 11%, it outlined in its annual financing plan.
Wednesday, January 30th 2019 - 09:14 UTC
Vale vows to cut 10% iron ore output and decommission ten dangerous sludge dams

Vale SA, the world’s largest iron ore miner, on Tuesday vowed to take as much as 10% of its ore output offline in order to decommission ten more dams like the one that burst last week, killing scores of workers and nearby residents.
Wednesday, January 30th 2019 - 08:54 UTC
Latin American markets outperform world stocks struggling over US/China trade talks

Latin American stocks rose on Tuesday, outperforming world stocks that struggled to hold gains ahead of keenly awaited U.S.-Sino trade talks, earnings of top technology companies and an impending U.S. Federal Reserve decision on interest rates.
Tuesday, January 29th 2019 - 09:01 UTC
Bolsonaro recovering after a nine-hour operation; General Hamilton Mourao acting president

Brazilian President Jair Bolsonaro has undergone surgery to remove a colostomy bag he had fitted after he was stabbed in the stomach on the campaign trail in September. He is expected to be on strict bed rest for two days after the operation, a presidential spokesman said.
Tuesday, January 29th 2019 - 08:43 UTC
Brazilian government considering management overhaul at miner Vale SA

Brazil’s government weighed pushing for a management overhaul at miner Vale SA on Monday as grief over hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday, firefighters in the state of Minas Gerais had confirmed 65 people killed by Friday’s disaster, in which a burst tailings dam sent a torrent of sludge into the miner’s offices and the town of Brumadinho.
Tuesday, January 29th 2019 - 08:36 UTC
Vale's market value plunges US$ 16,4bn on Monday, following on the dam burst

Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 62 billion reais (US$ 16.4 billion) in market value, after a tailing dam collapse on Friday killed at least 65 people and left 292 missing with slim hopes for recovery. Vale shares were down 21.5% in Sao Paulo morning trading, at 44.70 reais. The company suspended dividend payments late on Sunday.
Tuesday, January 29th 2019 - 08:30 UTC
Investors confident of Brazil: Net FDI flows equaled 4.7% of GDP in 2018

Brazil’s current account deficit doubled last year as economic growth fueled demand for foreign goods and services, while foreign investment reached its highest share of GDP since 2001, the central bank said on Monday.
Monday, January 28th 2019 - 09:32 UTC
Brazilian prosecutors looking into expanding the case against mining companies

The Brazilian prosecutor running talks to settle a lawsuit over a 2015 tailings dam rupture at the Samarco mine says the deadly dam burst at the mine run by Vale in Brumadinho could scramble those sensitive negotiations.
Monday, January 28th 2019 - 08:35 UTC
Brazilians furious with mining company and regulators: 58 dead confirmed and 300 missing

Grief over the hundreds of Brazilians feared lost in a mining disaster on Friday has quickly hardened into anger as victims' families and politicians say iron ore miner Vale SA and regulators have learned nothing from the recent past.
Monday, January 28th 2019 - 08:32 UTC
Brazil's corn and soybeans January exports booming

Brazil is poised to export more corn than soybeans for the first time in a year this January, although sales of the oilseed remain high for the period, according to government and shipping data.